As oil plunges, the region is dividing into three classe in investors’ eyes with Kuwait and Qatar emerging as the strongest.
OPEC forecast demand for the group’s oil will drop to 28.92 million barrels per day (bpd) in 2015, down 280,000 bpd from its previous expectation.
Differences still exist between the six GCC states over issues relating to Egypt, Libya and Iran.
The police force, which will be known as GCC-POL, and the naval force will help the Gulf states to counter risks posed by terrorist militant groups in the region.
The program allows investors to purchase government-approved real estate (min $400,000) in return for citizenship.
Sheikh Sabah said that one of the ways to encounter the oil price slide was greater economic integration within the GCC.
The main Dubai index drop almost neared its July low as panicky retail investors began selling off.
Brent crude oil fell more than $2 a barrel on Monday to a new five-year low.
The British Embassy in Cairo closed to the public on Sunday, also citing security concerns.
European manufacturer’s ACJ330 Summit targets governments and VIPs
The group is opening three new hotels in the Iraqi city of Erbil and a new hotel in Saudi Arabia, its chief executive said.
Islamic lenders need to improve their efficiency and increase penetration in predominantly Muslim markets to be big players in global trade finance.
Houthi fighters, friendly with Iran, took over the capital Sanaa in September.
Brent crude was up 0.3 per cent at $70.10 a barrel at 0840 GMT.
Half of all long-haul flights are affected as group unveils details of low-cost long-haul division
A court decided to drop charges against former president Hosni Mubarak over the killing of protesters in a 2011 uprising.
Brent crude fell nearly $2 a barrel to a five-year low below $68 in early trade on Monday but then pared some losses and climbed towards $70.
Azadea expects to fetch between $400 million and $500 million with its offer of a 25 per cent stake, sources said.
Sovereign wealth funds in the region are investing more in emerging markets such as Africa and China as they shift away from Western markets.
A proposed resolution on a Palestinian state is unlikely to gain the support of veto-wielding council member the US, a key ally of Israel.
The payment brings the amount Egypt has returned to Qatar to $6 billion, leaving $500 million outstanding.
Oil demand in Asia is not growing quickly enough to offset stagnating consumption, writes Reuters columnist John Kemp.
Oil prices have fallen by more than a third since June mainly due to increasing production in North America from shale oil.
The lender said it charged them excessive foreign currency fees on debit and credit card transactions.
Mohamed al-Makkawi, Al-Futtaim’s Egypt CEO, said the investments would be directed towards new projects in Cairo Festival City development.
The Middle East market, specifically Saudi Arabia, holds strong potential for growth for the French tyre company, says COO.
The bank has arranged syndications for Turkish borrowers worth more than $4.5 billion since 2010, including more than $2.1 billion in the past 18 months.
Petrochemical revenues from the region grew by $6 billion between 2012 and 2013, increasing 7.3 per cent, a new report shows.
Iran’s oil minister will meet his Saudi counterpart in Vienna to persuade the oil giant for cuts in oil production and supply, state news agency said.
Abraaj is now offering 79.10 pounds ($11.06) a share for a total purchase price of 909.65 million pounds, it said in Sunday’s statement.